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Sangamon Sun

Thursday, November 14, 2024

Former state university employee McCurdy paid in $2K to pension fund, could collect $43K in retirement

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Former state university employee Saundra McCurdy, who retired in November 2017, saved $1,545 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McCurdy would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McCurdy received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McCurdy will have already received $1,827 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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